BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Product Life Cycle
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The Business Cycle
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The Advertising Cycle
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The Industrial Cycle
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Detailed explanation-1: -When a product enters a market, it has a life cycle that traces its journey from being new and valuable to old and obsolete. It is referred to as the product life cycle or PLC. It (PLC) identifies and explains four stages of product development-introduction, growth, maturity, and decline.
Detailed explanation-2: -A product life cycle consists of four stages: introduction, growth, maturity, and decline. A lot of products continue to remain in a prolonged maturity state.
Detailed explanation-3: -Identify Your Place in the 4 Stages of Business Growth Startup. Growth. Maturity. Renewal or decline.
Detailed explanation-4: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline.
Detailed explanation-5: -The life cycle of a product is divided into four stages: the introduction stage, the growth stage, the maturity stage, and the decline stage. However, before a product can reach these stages, it must go through the design, research, and development processes.